The data on the series shows that the Bitcoin network has witnessed an increase in the activity of achieving profits from investors, but so far, the price has been able to keep it.
Bitcoin has seen multiple mutations to make profits of $ 500 million per hour
According to data from the Analysis Company on the series GlassnodeThe achieved profit index recorded multiple large nails for Bitcoin recently. The “achieved profit” here refers to an indication of the series that tracks the total amount of the profit that BTC investors realize through their transportation operations on the network.
The scale works by passing through the date of transferring each currency that is sold or transferred to find out the price that was dealt with before that. If the previous treatment price is less than the current sale price of any symbol, the sale of this metal currency leads to a gain equal to the difference between the two values.
The profit summarizes this difference for all moves to achieve profits to determine the total network. A counterpart index called the achieved loss takes care of sales of the opposite type.
Now, here is the chart that the analysis company that shows the trend in Bitcoin achieved over the past few months:
Looks like the value of the metric has been quite high in recent days | Source: Glassnode on X
Note that the release of the profit achieved in the graph is the “entity has been modified”, which means that it does not only track the transfers that occur between different portfolios, but also the transportation operations between different entities.
Glassnode defines “an entity” as a group of addresses that decided to belong to the same investor through his analysis. Of course, the movements that occur between the owner of the owner himself do not reflect the achievement of any profit, so the account account cleans data.
As is evident in the graph, the profit that the Bitcoin entity was modified was modified by several large mutations at the end of last month, indicating that investors obtained a great deal of profit. These nails coincided with the low origin of their near levels, so this sale can be the operator for that.
Now, the index has seen a few of these nails, corresponding to the profit device that exceeds $ 500 million per hour. Consequently, it seems that investors have not yet accomplished to harvest their gains.
This time, however, Bitcoin has not yet moved. It remains only to see, though, to the time when this will continue if the nails persist in the profit achieved.
BTC price
At the time of this report, Bitcoin floats about $ 104,900, a decrease of about 4 % in the past seven days.
The price of the coin appears to have been moving flat recently | Source: BTCUSDT on TradingView
Distinctive image from Dall-I, Glassnode.com, Chart from TradingView.com
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